Buying a home can be one of the most exciting, and stressful experiences you can have. This is the largest purchase that you’ll ever make, and there can be pitfalls along the way if you aren’t careful. However, partnering with a REALTOR® cannot only make this a smooth transaction but an enjoyable one as well. Here are three mistakes that are easy for first-time homebuyer mistakes, and how your REALTOR® can help you avoid.
Don’t Begin Shopping Without Being Pre-Qualified
One of the biggest mistakes you can make when is to begin shopping for a home without having your financing lined up. This can be a tremendous waste of time and energy for you and everyone involved. Your REALTOR ® can be a great resource for helping you find a lender. It is also important to know that once you are pre-approved that you should not take on any new financial obligations like a new car or credit card. This can change the terms of your mortgage or even forfeit it.
Consider All of the Costs, Not Just Your Mortgage Payment
While your monthly mortgage should be a key concern, there are many other financial considerations to be made. Insurance, taxes, home maintenance costs, and more can all add up quickly. Other factors like a new commute to work, schools, and more are all directly influenced by the location you choose. This is where a REALTOR® can be invaluable. Your REALTOR® can give you a clear picture of what these costs will look like, helping you plan accordingly, and make the best decision possible.
Not Using a REALTOR®
This may have been implied as the expertise of a REALTOR® has been demonstrated throughout this list, but this is an all-too-common mistake made by first-time homebuyers. Your REALTOR® has the experience and expertise that will not only help you find the perfect home but will be a tremendous resource in negotiations and see the transaction successfully through.